Global Economy
Iceland Lowers Volcano Aviation Warning Following Fissure Eruption
Iceland is monitoring a fissure eruption north of the Bardarbunga volcano as authorities downgraded the threat of a full-blown ash cloud. The Icelandic Met Office lowered their aviation warning level ...
European Insurers Balk About New Risk Rules
Insurers in Europe, which manage about 8.5 trillion euros ($11.2 trillion) of client money, say their role as long-term investors may be hurt by new regulation. Planned new risk-based rules for ...
The Netherlands’ SNS Reaal: Global Interest in Insurance Operations Sale
SNS Reaal, the Dutch financial services group nationalized last year, said international and domestic parties had expressed interest in its insurance operations which will go up for sale in ...
Asia Ripe For Reinsurance Expansion, Fitch Says
Softening premium rates in Asia and the market's broad potential for growth is spurring a regional spike in demand for reinsurance, Fitch Ratings has concluded in a new report. What's more, that ...
Tower Group Dealt More A.M. Best Ratings Downgrades
Tower Group International must deal with more ratings downgrades from A.M. Best, spurred by its soaring net losses and uncertainty over whether it can carry its debts through an intended merger with ...
USAA Names New CEO From Within
USAA, the insurance and financial services giant, has named a longtime internal executive with experience running its property/casualty arm as its next CEO. Stuart Parker becomes USAA's new chief ...
Hurricane Forecaster Favors Brief and Ugly Storms
When it comes to Atlantic hurricanes, brief and ugly is beautiful, at least to Phil Klotzbach, lead author of Colorado State University's seasonal storm forecast. That's because a ragged-looking ...
Dire Cancer Prognosis Sped Up Benmoshe’s AIG Departure
Robert Benmosche, who is stepping down this weekend after five years as American International Group Inc.'s chief executive officer, said he learned in May that he had nine months to a year to live. ...